Magnetar Financial LLC Buys 4,592 Shares of Philip Morris International Inc. (NYSE:PM)

Magnetar Financial LLC increased its stake in shares of Philip Morris International Inc. (NYSE:PM) by 14.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,071 shares of the company’s stock after buying an additional 4,592 shares during the quarter. Magnetar Financial LLC’s holdings in Philip Morris International were worth $4,461,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. State Street Corp grew its stake in shares of Philip Morris International by 0.4% during the third quarter. State Street Corp now owns 54,711,621 shares of the company’s stock worth $6,715,237,000 after purchasing an additional 224,840 shares during the period. Geode Capital Management LLC grew its stake in Philip Morris International by 2.0% in the third quarter. Geode Capital Management LLC now owns 32,101,324 shares of the company’s stock valued at $3,886,818,000 after acquiring an additional 621,034 shares during the period. FMR LLC grew its stake in Philip Morris International by 40.9% in the third quarter. FMR LLC now owns 23,168,446 shares of the company’s stock valued at $2,812,649,000 after acquiring an additional 6,721,094 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Philip Morris International by 21.0% during the fourth quarter. Bank of New York Mellon Corp now owns 16,070,482 shares of the company’s stock worth $1,934,083,000 after buying an additional 2,785,987 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Philip Morris International by 1.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 13,422,920 shares of the company’s stock worth $1,615,449,000 after buying an additional 190,201 shares during the period. Institutional investors own 78.63% of the company’s stock.

Philip Morris International Trading Down 1.4 %

PM stock opened at $152.12 on Friday. The firm has a market capitalization of $236.53 billion, a P/E ratio of 33.73, a price-to-earnings-growth ratio of 2.65 and a beta of 0.53. Philip Morris International Inc. has a 12 month low of $87.82 and a 12 month high of $159.51. The firm has a 50 day moving average of $141.69 and a 200-day moving average of $130.95.

Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Thursday, February 6th. The company reported $1.55 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.06. Philip Morris International had a net margin of 7.89% and a negative return on equity of 120.08%. Sell-side analysts predict that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Thursday, March 20th will be paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 3.55%. The ex-dividend date is Thursday, March 20th. Philip Morris International’s payout ratio is currently 119.73%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. StockNews.com lowered Philip Morris International from a “buy” rating to a “hold” rating in a report on Monday, February 10th. JPMorgan Chase & Co. upped their target price on Philip Morris International from $145.00 to $160.00 and gave the company an “overweight” rating in a research report on Tuesday, February 18th. Morgan Stanley initiated coverage on Philip Morris International in a research report on Thursday, January 16th. They issued an “overweight” rating and a $140.00 target price on the stock. UBS Group increased their price target on Philip Morris International from $105.00 to $120.00 and gave the stock a “sell” rating in a research report on Friday, February 7th. Finally, Argus raised Philip Morris International from a “hold” rating to a “buy” rating in a research report on Friday, March 14th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $144.56.

Insider Activity at Philip Morris International

In related news, SVP Yann Guerin sold 2,500 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $151.28, for a total transaction of $378,200.00. Following the transaction, the senior vice president now owns 30,308 shares in the company, valued at $4,584,994.24. This represents a 7.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Lars Dahlgren sold 3,679 shares of the company’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $152.96, for a total transaction of $562,739.84. Following the sale, the insider now directly owns 26,828 shares of the company’s stock, valued at $4,103,610.88. The trade was a 12.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 131,822 shares of company stock worth $19,655,585 over the last ninety days. 0.13% of the stock is owned by corporate insiders.

About Philip Morris International

Philip Morris International Inc operates as a tobacco company working to delivers a smoke-free future and evolving portfolio for the long-term to include products outside of the tobacco and nicotine sector. The company's product portfolio primarily consists of cigarettes and smoke-free products, including heat-not-burn, vapor, and oral nicotine products primarily under the IQOS and ZYN brands; and consumer accessories, such as lighters and matches.